INDIAN ENERGY EXC LTD (IEX)IEX: Breakout & Retest from Rectangle Pattern
Key Observations
Breakout and Retest: The price has broken above the resistance level (neckline) of the cup and handle pattern, confirming the bullish signal.
RSI: The RSI is above 60, suggesting a bullish bias.
Volume: Increased volume during the breakout and subsequent pullback confirms the significance of the price movement.
Disclaimer: This analysis is based on the provided chart and is for informational purposes only. It does not constitute financial advice. Always consult with a financial advisor before making investment decisions.
IEX trade ideas
IEX - Ichimoku Breakout📈 Stock Name - Indian Energy Exchange Ltd
🌐 Ichimoku Cloud Setup:
1️⃣ Today's close is above the Conversion Line.
2️⃣ Future Kumo is Turning Bullish.
3️⃣ Chikou span is slanting upwards.
All these parameters are shouting BULLISH at the Current Market Price and even more bullishness anticipated AFTER crossing 204.
🚨Disclaimer: This is not a Buy or Sell recommendation. It's for educational purposes and a guiding light to learn trading in the market.
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Smart Money Concept in IEXThe overall trend is uptrend. Here we have two Order blocks (OB) in 1hr time frame. The price given Break of Structure (BOS) by creating a impulsive move. So we need to wait for the price to touch either decision OB or Extreme OB. Before taking entry, let's check the Change of Character (CHOCH) in 3 mins timeframe. This is for educational purposes only.
IEX IWSupport and Resistance:
The chart shows a long consolidation phase, highlighted by a black rectangle. This consolidation represents a trading range where the price was oscillating between approximately ₹120 and ₹180.
Breakout:
The price has recently broken out of this consolidation zone, moving above ₹180 and reaching a current level of ₹203.51. This breakout may indicate a potential trend reversal or continuation of the uptrend.
Upside Targets:
Two potential resistance levels are marked with red dashed lines:
The first level is around ₹245.58.
The second, more distant target is around ₹301.90.
These observations are based on the chart's technical analysis for educational purposes and are not financial advice.
IEX Rounding BottomIEX Rounding bottom
- Buying range 185-200
Disclaimer:-
Investments in securities are subject to market risk.
Everything I discuss here is for educational purpose.
I am sharing my personal view as a trader / investor.
Please consult your financial advisor before taking any decision.
IEX - Potential reversal from the 2 years consolidation phaseNation wide, automated and transparent trading platform for physical delivery of electricity, renewables & certificates, holds market share of 80%.
Elliott Wave Analysis
Wave (1) indicates a strong uptrend, peaking around the INR 253.
Wave (2) shows a retracement, aligns with the 38.2% Fibonacci level around INR 122 and a period of consolidation, forming a rounding bottom pattern.
Rounding Bottom
The chart indicates a strong technical setup with a rounding bottom pattern, suggesting a potential reversal from the 2 years consolidation phase. The volume breakout further supports the bullish outlook.
Potential Price Targets:
The immediate resistance can be expected around the previous high at INR 253. If the uptrend continues, the long term target will be INR 383.
The level of INR 160 serves as a immediate support and 38.2% Fibonacci retracement level at INR 122 will be critical support level from long term view point.
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
IEX WEEKLY BREAKOUTStock Name- IEX
IEX Weekly Breakout
Weekly Time Frame
Holding period - 3 to 6 months
Potential Upside Stock
Disclaimer: This is for demonstration and educational purpose only. this is not buying and selling recommendations. I am not SEBI registered. please consult your financial advisor before taking any trade.
IEX ROUNDING BOTTOM BREAKOUT AFTER CONSOLIDATION OF 24 MONTHSIndian Energy Exchange Ltd. an interesting chart to keep on radar with following
1. Rounding Bottom pattern breakout on weekly chart
2. Breakout after a long consolidation of 24 months with rising volume
3. Can be a good risk reward with buy near breakout test zone i.e. 166 as major support exist between 155-170 zone being multiple moving averages support area.
FUNDAMENTALS:
Company has reduced debt.
Company is almost debt free.
Company has a good return on equity (ROE) track record: 3 Years ROE 40.3%
Company has been maintaining a healthy dividend payout of 51.7%
CAUTION:
RSI on monthly is struggling to cross above 60, which can cause resistance
Lets See How it Evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
IEX Date 25.07.2024
IEX
Time frame : Day chart
Remarks : The stock formed long broadening wedge formation & now has reached a make or break resistance confluence of gann angle & support/resistance band. This is very significant area technically, fundamentally the stock has out performed & continues growth power demand is positive for the stock.
Quarterly Result IEX
IEX: Q1 CONS NET PROFIT 964.4M RUPEES VS 758M (YOY)
IEX: Q1 REVENUE 1.24B RUPEES VS 1.04B (YOY)
IEX: Q1 EBITDA 1.03B RUPEES VS 831.7M (YOY) || Q1 EBITDA MARGIN 83.3% VS 79.9% (YOY)
Hence, breakout from here will ride strong momentum
Regards,
Ankur
IEX - Rounding bottom with fresh volumesClear rounding bottom with fresh volumes.
Targets(T1, T2, T3 & T4) mentioned along with expected time frames. Stop loss marked as SL. Can achieve better targets, should carry trailing stop loss once in good gains. Also keep tracking quarterly results to monitor performance.
Disclaimer: No recommendation